10 facts about the Northern Gateway pipeline project

Canadian Press, The Canadian Press
0 Comments| June 8, 2014


VANCOUVER _ Some facts about the Northern Gateway pipeline project:

_ Its estimated cost is $7 billion and rising.

_ The 1,177-kilometre twin pipelines would run from Bruderheim, just outside Edmonton, to a tanker port in Kitimat, on the northern coast of B.C.

_ One pipeline would carry up to 525,000 barrels a day of oil sands products west to Kitimat for export. A second heading east would carry 193,000 barrels per day of condensate, a form of natural gas used to dilute the molasses-like bitumen to allow it to flow through pipelines.

_ The westbound pipeline would carry synbit, a blend of refined synthetic oil and bitumen, two types of dilbit and synthetic oil.

_ The Kitimat Marine Terminal would include two ship berths and 19 tanks to store oil and condensate. The facility would have the capacity to serve around 220 tankers per year.

_ The pipeline would be worth an estimated $300 billion in additional gross domestic product over 30 years.

_ Governments would net an estimated $80 billion in tax and royalty revenues over those three decades: $36 billion for Ottawa, $32 billion for Alberta and $6.7 billion for B.C. Saskatchewan would net an estimated $4 billion.

_ The company says the project would result in 3,000 new construction jobs in B.C. and 560 long-term jobs.

_ Northern Gateway Pipelines is a limited partnership. Calgary-based Enbridge (TSX:ENB, Stock Forum) has a 50 per cent stake. The rest belongs to 10 private investors.

_ Four of those investors remain confidential. National Energy Board documents reveal the other six are: French oil company Total; Suncor (TSX:SU, Stock Forum); MEG Energy; Cenovus (TSX:CVE, Stock Forum); Nexen (TSX:NXY, Stock Forum), the Calgary company taken over last year by Chinese state-owned China National Offshore Oil Co.; and Sinopec, China's largest oil company.



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